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US Announces Regulatory 2022 for Bitcoin

Mexico, Guerrero, Mexcala
Published 1 week ago
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US Announces Regulatory 2022 for Bitcoin
Mexico, Guerrero, Mexcala,
Published 1 week ago

Description

The control and supervisory bodies of the United States financial system today announced a list of tasks that they will complete next year, all related to the regulation of bitcoin (BTC) and other cryptocurrencies.

The Federal Reserve (Fed), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), in a joint statement, reported on a series of guidelines set for 2022. This with the main objective of "Provide greater clarity on whether certain activities related to crypto assets, carried out by banking organizations, are legally permitted."

The document details that after concluding a previous study on how banking agencies were approaching cryptocurrencies, regulators considered that it was necessary to delve into several topics.

In that sense, they are now considering analyzing the current regulation used by banks that have integrated services with bitcoin and other cryptocurrencies. Also, they will study in greater detail how banks should properly maintain custody of cryptocurrencies.

In the same way, they will analyze what companies should do to help consumers carry out transactions with bitcoin or what capital and liquidity standards must have the loan services guaranteed in crypto assets.

OCC requires banks to request approval to trade bitcoin

Additionally, the OCC followed the launch of the roadmap with a new policy, by ordering the banks it regulates to request permits in order to offer custody of cryptocurrencies. Likewise, they must have prior approval to retain the dollars deposited to back stablecoins and to handle cryptocurrency transactions.

Additionally, lenders will need to apply for a special permit and demonstrate that they have sufficient risk controls before being approved by the OCC, according to a Bloomberg report.


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    Mexico, Guerrero, Mexcala
    V. Guerrero St 65